16 Nov The Pulse: Popeyes on Burbank Sold for 5.35% Cap Rate

A weekly update on the commercial real estate landscape of Baton Rouge.

Commercial Sales Recorded Last Week

10613 Burbank Dr
Price: $3,399,551 ($1,555 / SF)
Buyer: Tandem Columbus Equities, LLC
Elifin’s Notes: New Jersey-based investor purchases net-leased Popeyes off Burbank Dr near the Bluebonnet Blvd intersection. This represents a 5.35% cap rate.

8770 Elm Grove Garden Dr
Price: $1,517,773 ($18,069 / Unit)
Buyer: TBF Development, LLC
Elifin’s Notes: Alabama-based company purchases 84-unit Elm Grove Garden Apartments near the I-110 and Scotland Ave intersection.

Tract B-2-C-1-A-1 Airline Hwy
Price: $5,077,000 ($1.31 / Land SF)
Buyer: Priceco West, L.C.
Elifin’s Notes: Price LeBlanc auto dealership purchases acreage off Airline Hwy near Antioch Rd.

7246 Perkins Rd
Price: $425,000 ($15.49 / Land SF)
Buyer: P-4, L.L.C.
Elifin’s Notes: Local real estate broker purchases vacant land behind former Shrimp Basket, adjacent to the Perkins Rd Recreation Center/Velodrome Skate Park.

Lot S-2 Coursey Blvd
Price: $204,671 ($5.75 / Land SF)
Buyer: Kumar LLC
Elifin’s Notes: Hammond-based investor purchases 0.82-acre vacant parcel off Coursey Blvd. This property is connected to the vacant land purchased by Kumar LLC last month.

4320 Jeffrey Dr
Price: $360,000 ($55 / SF)
Buyer: Complete Car Wash Systems, LLC
Elifin’s Notes: Local Geaux Clean Express Car Wash company purchases office/warehouse off Airline Hwy near Coursey Blvd.

8388 S Choctaw Dr
Price: $200,000 ($12 / SF)
Buyer: SBC Investments, LLC
Elifin’s Notes: Local investor purchases warehouse off S Choctaw Dr.

Upcoming Planning Commission Cases

• Revised Concept Plan for the Greens at Millerville
  • Submitted 9/28/2020 by Chris Ferris of Ferris Engineering & Surveying, LLC. Revise permissible uses in Areas A, B, C, and D to include multi-family residential, and an indoor shooting range with an educational center and club, on property located on the west side of Millerville Road and north of Interstate 12, on Parcels 1-A; 2; 3-A, B, C, and D; 5 and 6 of the Greens at Millerville Subdivision.
  • Application – Staff Report – Plans – View on Map

Commercial Permits Issued Last Week

• Type: Demolition
• Description: A demolition to the top floor slab of former papermaking additive plant
• Owner: N/A

• Type: Electrical
• Description: Change out panel per inspection report and bring to code
• Owner: Daniel Midyett

• Type: Occupancy
• Description: New owner of existing 4-plex with house meter and security lights. electric only.
• Owner: Henry Beard

• Type: Demolition
• Description: A demolition to a 2 story building
• Owner: Lonnie Dixon

• Type: Electrical
• Description: 100 AMP SERVICE AND 3 CIRCUITS FOR LIGHTING
• Owner: AHMAD KAYED

• Type: Electrical
• Description: Replace all lighting with Led style lights in retail store
• Owner: Jason Van Halen

• Type: Electrical
• Description: Change out receptacles
• Owner: Micheal Hilton

• Type: Demolition
• Description: A demolition to a 2 story building
• Owner: Lonnie Dixon

• Type: Solar
• Description: Solar installation 8.16kw on existing roof
• Owner: Marc Jones

• Type: Electrical
• Description: Change out 6 pack meter center. Entergy will disconnect power 11/17/20. Will need to do work and restore power same day. Thank you! Brian J. Biggers
• Owner: N/A

• Type: Electrical
• Description: Trailer pole to be set in a lay down yard. Equipment has been stolen 2 times from the property. Pole will be set to run camera systems to watch over the property
• Owner: Kyle Cox

• Type: Electrical
• Description: Correct wiring replace undeground riser pipe
• Owner: Howard Hughes, Jr.

• Type: Occupancy: Clean
• Description: Clean and show for warehouse building.
• Owner: Brad Gore

• Type: Occupancy
• Description: Massage therapy/spa.
• Owner: Ting Song

• Type: Commercial: Addition
• Description: Adding a 1976 sq ft dome shade over existing HOA playground
• Owner: Kate Cook

• Type: Plumbing
• Description: Inspect a water heater.
• Owner: Mark Hermann

• Type: Commercial: Addition
• Description: Expansion/Addition of 23,818 sf warehouse space to existing 81,655 sf warehouse/office space to create new 105,473 s.f. sprinklered S-1 use bldg. (SP-5-20)
• Owner: Mark Emonet

• Type: Electrical
• Description: checked out lift station
• Owner: N/A

• Type: Mechanical
• Description: remove and replace two 5 ton split systems
• Owner: N/A

• Type: Occupancy
• Description: Existing Popeye’s Restaurant.
• Owner: Zach Fetcko

• Type: Occupancy
• Description: Insurance agency/office use.
• Owner: James

• Type: Occupancy
• Description: Existing Popeye’s Restaurant.
• Owner: Zach Fetcko

• Type: Occupancy: Clean
• Description: Clean and show for mercantile space.
• Owner: Jenny Ledel

• Type: Occupancy
• Description: Existing Popeye’s Restaurant
• Owner: Zach Fetcko

• Type: Occupancy
• Description: Existing Popeye’s Restaurant.
• Owner: Zach Fetcko

• Type: Occupancy
• Description: Existing Popeye’s Restaurant.
• Owner: Zach Fetcko

• Type: Occupancy
• Description: Existing Popeye’s Restaurant
• Owner: Zach Fetcko

• Type: Occupancy
• Description: Retail store.
• Owner: Nathan Lott

• Type: Occupancy
• Description: Existing Popeye’s Restaurant.
• Owner: Zach Fetcko

• Type: Demolition
• Description: A demolition to an existing cellular tower
• Owner: N/A

• Type: Occupancy
• Description: Car wash equipment supplier.
• Owner: Stuart Carter

• Type: Commercial: Remodel
• Description: Interior renovation of existing 180 s.f. area for food service preparation within existing convenience store, continued Mercantile use.
• Owner: DAVID SCHUMAKER

• Type: Occupancy
• Description: New owner of existing apartment building.
• Owner: N/A

• Type: Occupancy
• Description: Existing business (new name) in warehouse – gas and electric.
• Owner: Rene Weaver

• Type: Occupancy
• Description: Existing Popeyes Restaurant.
• Owner: Zach Fetcko

• Type: Electrical
• Description: Changing service to 200amps to accommodate new electric heat
• Owner: Amanda Talbot

• Type: Occupancy
• Description: One stylist hair salon/storage warehouse.
• Owner: Cheryl Fondino

• Type: Occupancy
• Description: Office / Warehouse for household moving company.
• Owner: Mark Breaux

• Type: Fence
• Description: Wooden Fence
• Owner: Mark Johnson

• Type: Occupancy
• Description: existing trailer
• Owner: Lorenzo Herrera

• Type: Occupancy
• Description: Existing Popeye’s Restaurant.
• Owner: Zach Fetcko

• Type: Commercial: New
• Description: New construction of Bldg. D of 3,684 s.f. for Business office use, to have 4 suites: D-1 (893 s.f.), D-2 (917 s.f.), D-3 (917 s.f.) and D-4 (893 s.f.).
• Owner: N/A

• Type: Occupancy
• Description: House meter/electrical only.
• Owner: Ezetta Saulny

• Type: Occupancy
• Description: Job trailer, Drop-tank.
• Owner: N/A

• Type: Demolition
• Description: Demolition of a metal storage shed approximate 12 x 12
• Owner: Robert & Shirley Jones

• Type: Commercial: Remodel
• Description: Remodel to build out 1200s.f. tenant space, Suite G for tea nutrition shop.
• Owner: Dawn Colon

• Type: Commercial: Remodel
• Description: (Expedited) Interior Tenant Buildout for Cheba Hut restaurant in an existing 2,300 SF tenant space. The new occupant is a toasted/warming sandwhich restaurant with no greasy waste. The project consists of a new bar, new outdoor seating, renovated dining area, renovated cook line/kitchen, renovated dishwashing and storage area, and renovated restrooms.
• Owner: Tommy Wiggins

• Type: Occupancy: Clean
• Description: Clean and show.
• Owner: Andy McCall

• Type: Commercial: New
• Description: New construction of a 2992 SQFT, V-B Business Occupancy building to house BREW Agency, located in the Perkins Road Business Park. Parking Lot Permit 85178.
• Owner: Marie Powell

• Type: Electrical
• Description: meter box change out (4-pack) units A,B,C,D
• Owner: Theodore & Shirley Johnson

• Type: Occupancy
• Description: Existing Dollar General store.
• Owner: Sarah Spicer

• Type: Solar
• Description: Install 8.14 kW solar panel system on existing home – no structural changes.
• Owner: Jasma Williams

• Type: Electrical
• Description: Emergency disconnect/ reconnect. Tree fell on power line and pulled riser off wall
• Owner: Edith Roberie

• Type: Mechanical
• Description: 80 ton Air Cooled Chiller Replacement.
• Owner: N/A

• Type: Electrical
• Description: storm damage to home. need to rebuild the service.
• Owner: patrick kahn

• Type: Occupancy: Clean
• Description: Clean and show.
• Owner: Andy McCall

• Type: Occupancy
• Description: New owner of existing insurance agency – Allstate.
• Owner: Mike Stone